Sacramento, CA -- January 31, 2019 -- InvestorsHub NewsWire --
Spotlight Growth has published new content about Indoor Harvest
Corp (“Indoor Harvest” or the “Company”) (OTCQB: INQD), a
precision agriculture technology company that is focused on
leveraging its proprietary technology to help cannabis companies to
not only lower costs and improve efficiency, but also improve crop
yield, consistency, and quality. This gives Indoor Harvest the
ability to utilize its precision agricultural technology to help
develop better products for the next generation of personalized
cannabis-based medicines and treatments.
The report provides an overview of Indoor
Harvest, its latest news, and management’s plans to
continue growing the company.
New Frontier Data: U.S. Legal Cannabis Market Estimated
to Reach $25 Billion By 2025
In 2018, the movement for cannabis legalization received a major
boost of confidence after Canada became the first G7 country to
fully legalize recreational cannabis use for adults. While Canada
held the spotlight in 2018, U.S. states continued to make progress
with legalization and reforms. In the November 2018 elections,
Michigan became the 10th state to approve recreational
use of cannabis for adults, while voters in Missouri and Utah
approved medical marijuana initiatives.
Though still very early in 2019, signs of acceptance from
government officials and support for legalization initiatives
continues to grow. Newly-elected Florida Governor, Rick
DeSantis, just announced his administration will not follow through
on the previous Governor’s prohibition fight on cannabis flow
sales. Furthermore, several states, such as Connecticut, Illinois,
Minnesota, Texas, Rhode Island and New Jersey, will be watched
closely for potentially being the next in line to reform cannabis
laws.
Even President Trump has signaled interest and support in
reforming federal cannabis laws. The signing of the 2019 Farm Bill,
which legalized industrial hemp, is seen as an early step in
updating federal marijuana laws. President Trump’s new nominee for
the attorney general role is William Barr, who stated in a
testimony for a Senate committee that he would not prosecute
cannabis in States where it is legalized.
According to New Frontier Data, the U.S. legal cannabis
market is estimated to reach $25 billion by 2025, which represents
a compound annual growth rate (CAGR) of 14.70% between 2018 and
2025.
INQD: Focused on Cannabis Research & Development
Opportunities, Cultivation Partnerships and Leveraging Public
Company Vehicle To Engage in M&A
Indoor Harvest recently released a comprehensive press
release detailing major developments at the Company. First,
management announced that the Company is moving its operational
focus to Boston, Massachusetts. Not only has Massachusetts
legalized medical and recreational cannabis use, but Massachusetts
is also offering a cannabis research license. This provides Indoor
Harvest with a unique opportunity to add greater research
capabilities to its operations. Boston is also the home of new CEO,
Dan Weadock.
Indoor Harvest has entered into a non-binding Memorandum of
Understanding (MOU) to explore the formation of a joint venture
partnership with Cannabis Community Care and Research Network
(C3RN) and Integrated Genetics & BioPharma Research (“IGBR”
also co-owned by Dan Weadock).
The Company plans to work with C3RN and IGBR to develop a plan
to acquire or lease properties and pursue research and development
initiatives. On top of that, the Company expects to have the
ability to offer contract research services and product development
services to the cannabis community at large.
The team at Indoor Harvest has a strong
background in vertical farming and controlled
environment agricultural technology, while the new
CEO has strong connections to cannabis genetics and
tissue culture. This knowledge and expertise are what
sets Indoor Harvest apart from the average cannabis company.
Dan Weadock was appointed as the Chief Executive Officer at
Indoor Harvest almost one year ago bringing a wealth
of knowledge and relationships to
help expand the Company’s vision beyond
aeroponics. As a co-founder of Integrated Genetics
& BioPharma Research, LLC (IGBR), a private Massachusetts
company focused on delivering what they expect to be commercial
grade, boutique cannabis clones from tissue culture, to the legal
Massachusetts cannabis markets, Mr. Weadock brings this new dynamic
of plant genetics and biology to the team, with access to top
quality cannabis genetics and plant scientists, along with his
understanding of the critical role of the interplay between the
biology of the plants and the mechanical /controlled environment.
For more information on Indoor Harvest, please
visit: https://www.otcmarkets.com/stock/INQD/profile and http://spotlightgrowth.com/index.php/2019/01/25/indoor-harvest-corp-otcqb-inqd-a-precision-agriculture-technology-company-making-waves-in-the-cannabis-industry/
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Disclaimer:
Spotlight Growth is compensated, either directly or via a third
party, to provide investor relations services for its
clients. Spotlight Growth creates exposure for companies
through a customized marketing strategy, including design of
promotional material, the drafting and editing of press releases
and media placement.
All information on featured companies is provided by the
companies profiled, or is available from public sources. Spotlight
Growth and its employees are not a Registered Investment Advisor,
Broker Dealer or a member of any association for other research
providers in any jurisdiction whatsoever and we are not qualified
to give financial advice. The information contained herein is based
on external sources that Spotlight Growth believes to be reliable,
but its accuracy is not guaranteed. Spotlight Growth may
create reports and content that has been compensated by a company
or third-parties, or for purposes of self-marketing. Spotlight
Growth was compensated twenty thousand dollars cash for the
creation and dissemination of this content.
This material does not represent an investment solicitation.
Certain statements contained herein constitute “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements may include, without
limitation, statements with respect to the Company’s plans and
objectives, projections, expectations and intentions. These
forward-looking statements are based on current expectations,
estimates and projections about the Company’s industry,
management’s beliefs and certain assumptions made by
management.
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